University of Nottingham - Faculty of Social Sciences

MSc Economics of Monetary and Financial Policy

Overview

This course is taught by economists with substantial experience working with central banks, regulators and other financial institutions.

It is designed for those intending to prepare for an active career in a central bank or a regulatory authority overseeing financial markets and institutions, or who wish to gain experience of these institutions before working in the financial sector. It provides relevant preparation for work as an economist, supervisor or regulator in commercial and investment banks, credit rating agencies, pension companies and insurers, as well as in the public sector.

Unlike a typical economics MSc, this course includes core modules in consumer and firm behaviour, and the macroeconomic context for policymaking. It provides an introduction to monetary and financial policymaking, and hands-on data analysis modules with applications relevant to monetary and financial institutions.

Specialised modules refer to monetary economics and policy, economics of corporate finance, economics of household finance, and options are offered in macro-financial and general equilibrium (DSGE) modelling techniques used widely by central banks and regulators. These modules offer advanced understanding of institutions, policymaking bodies and techniques used to evaluate policies.

This course has close links with the Centre for Finance, Credit and Macroeconomics. Teaching is conducted by centre Fellows and draw on research published in the working paper series and internationally recognised peer-reviewed journals. It is further supported by a weekly seminar series, one-day conferences and regular public lectures.

Course details

This course comprises 120 credits of core and optional modules, plus a 60-credit dissertation on a subject of your choice. You will receive one-to-one support from an expert academic supervisor, and methodological and practical guidance through our Economic Research Methodology module.

In semester one, you will take modules in macroprudential policy and financial conduct, macroeconomics, microeconomics and economic data analysis.

In semester two, you will take two further required modules, including Monetary Theory and Policy and either Economics of Corporate Finance, or Economics of Household Finance. You will also start work on your dissertation by taking a module in economic research methodology, and choose two optional modules from a wide range.

After completing your semester two modules, you will undertake a 15,000-word supervised dissertation which will demonstrate familiarity with a particular area of monetary and financial policy.

Assessment

Modules are assessed by a combination of exams and coursework at the end of the relevant semester.

Modules

Core

Macroprudential Policy and Financial Conduct

Monetary Theory and Policy

Microeconomics: Consumers, Firms and Markets

Macroeconomics: Economic Cycles, Frictions and Policy

Economic Data Analysis

Economic Research Methodology

MSc Dissertation: Economics

One from:

Economics of Corporate Finance

Economics of Household Finance

Optional

Two from:

Advanced Macroeconomic Theory

International Macroeconomics

Advanced Microeconomic Theory

Behavioural Economic Theory

Experimental Methods in Economics

Financial and Macroeconometrics

International Trade Theory

Trade Analysis and Policy

Applied Behavioural Economics

Development Policy Analysis

Development Microeconomics

The modules we offer are inspired by the research interests of our staff and as a result may change for reasons of, for example, research developments or legislation changes. This list is an example of typical modules we offer, not a definitive list.

Careers

This course provides excellent preparation for work as an economist, supervisor or regulator in the Bank of England, the Prudential Regulation Authority, the Financial Conduct Authority, or in the private sector in commercial and investment banks, credit rating agencies, pension companies and insurers. Equivalent organisations and firms exist in most countries, and the course has been designed to refer to a broader set of institutions around the world.

A masters in economics provides a logical and rigorous perspective on human behaviour which is valued by a wide-range of employers around the world, in banking, business, consulting, government and academia.

Former MSc students are spread around the globe, working in academia, government and the private sector. Economics graduate destinations include Barclays, Bloomberg, Deloitte, Economist Intelligence Unit, Goldman Sachs, IBM, PwC, and Thomson Reuters.

Employability and average starting salary

94.4% of postgraduates from the School of Economics who were available for employment secured work or further study within six months of graduation. £31,750 was the average starting salary, with the highest being £45,000.*

* Known destinations of full-time home postgraduates 2016/17. Salaries are calculated based on the median of those in full-time paid employment within the UK.

Career and professional development

Whether you are looking to enhance your career prospects or develop your knowledge, a postgraduate degree from the University of Nottingham can help take you where you want to be.